Mortgage Loan Origination Agreement Template
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1MORTGAGE LOAN ORIGINATION AGREEMENT
You, the applicant(s), agree to enter into this Mortgage Loan Origination Agreement with
_______________________________(broker name) as an independent contractor to apply for a
residential mortgage loan from a participating lender with which we from time to time contract upon
such terms and conditions as you may request or a lender may require. You inquired into mortgage
financing with _____________________________ (broker name) on ___________________(date).
We are licensed as a “Mortgage Broker” under the laws of the state of ________________________.
SECTION 1. NATURE OF RELATIONSHIP. In connection with this mortgage loan we are acting as
an independent contractor and not as your agent. We will enter into separate independent contract
agreements with various lenders. While we seek to assist you in meeting your financial needs, we do
not distribute the products of all lenders or investors in the market and cannot guarantee the lowest
price or best terms available in the market.
SECTION 2. SERVICES PROVIDED. Services provided by us can include, but are not limited to:
Arranging for a conditional mortgage loan commitment between Borrower and Lender. Taking the
mortgage loan application.
Assembling information.
Processing the mortgage loan file including
verifying the information.
Preparing all paperwork and documentation necessary for a conditional
mortgage loan commitment. Reviewing, analyzing and evaluating Borrower(s)’ financial statements,
income, and credit history. Incidental services utilized in arranging for and procuring a conditional loan
commitment including mail and long distance telephone charges.
SECTION 3. OUR COMPENSATION.
The lenders whose loan products we distribute generally
provide their loan products to us at a wholesale rate. The retail price we offer you - your interest rate
and total points and fees - will include our compensation. Alternatively, we may be paid a portion of
our compensation by both you and the lender. For example, in some cases, if you would rather pay
less up-front, you may be able to pay some or all of our compensation indirectly through a higher
interest rate in which case we will be paid directly by the lender. We also may be paid by the lender
based on (i) the value of the Mortgage Loan or related servicing rights in the market place or (ii) other
services, goods or facilities performed or provided by us to the lender.
The amount of fees and charges that you pay in connection with your loan will be estimated on your
Good Faith Estimate.
The final amount will be disclosed on your HUD-1 or HUD 1A Settlement
Statement.
By signing below, applicant(s) acknowledge receipt of a copy of this signed Agreement.
Borrower 1:
Borrower 2:
Print Name:
Print Name:
Date:
Address:
Broker Authorized Agent Signature:
Print Name:
Address:
Wholesale Mortgage Origination Agreement Revised 06/05 (11/03)
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